The post SEC Drops MetaMask Lawsuit, is Ripple Next? appeared on BitcoinEthereumNews.com.

The SEC dropped its case against Consensys today, no longer claiming that the Metamask wallet violates securities regulations. Consensys’ CEO Joseph Lubin extended an olive branch to the Commission. This is the sixth legal action dropped against crypto firms in a week, but the Commission remains silent on its biggest case – the XRP lawsuit. However, the SEC today hosted a closed-door meeting meeting about active enforcement cases, and Ripple could have been a major focus. Despite its desire to lower enforcement actions, the SEC remains one of the top financial regulators in the US. Lately, it’s been dropping major enforcement lawsuits, like the one against Coinbase, and attempting to settle another case with Tron. Today, the SEC is winding down its action against Consensys, specifically concerning the firm’s Metamask wallet. “I’m pleased to announce that Consensys and the SEC have agreed in principle that the securities enforcement case concerning MetaMask should be dismissed. Subject to the approval of the Commission, the SEC will file a stipulation with the court that effectively closes the case,” Consensys founder Joseph Lubin said via social media. Metamask, Consensys’ Ethereum-based wallet solution, drew the SEC’s ire for allegedly violating securities laws, leading to a lawsuit. Despite the bad blood between the two, however, Lubin struck a conciliatory tone with the Commission, saluting “the SEC’s new leadership and the pro-innovation, pro-investor path they are taking.” Consensys doesn’t seem to have any lasting resentment towards the SEC, but that’s not true across the board. Yesterday, the Commission dropped its investigation into Gemini, whose co-founder Cameron Winklevoss demanded harsh penalties. Will this Impact the Ripple Case? It’s all well and good that the SEC and Consensys want to bury the hatchet, but it doesn’t answer the industry’s most burning enforcement question. As one analyst pointed out, one…

---

Filed under: News - @ February 28, 2025 12:20 am